Richard Stone

Stone, Richard (Sir John Richard Nicholas Stone), 1913–91, British economist, grad. Cambridge, 1935. After working for the British government during World War II, he became (1945) the first director of the Dept. of Applied Economics at Cambridge and then was (1955–80) professor of finance and accounting there. Stone oversaw the development of a standardized system of accounts for a nation's economic activity (for the Organization for European Economic Cooperation and later for the United Nations), studied consumer behavior, constructed an econometric model of the British economy, and did work on social demography. For his contributions to the development of systems of national accounts he was awarded the Nobel Memorial Prize in Economic Sciences in 1984.